The leading company within the industrial gases market in Catalonia has closed a financing agreement for 3 million euros with the Smart Fund of Banco Santander.
GasN2 has recently closed a financing agreement with Banco Santander’s Smart Fund for 3 million euros. This agreement aims to finance the company’s growth, and is presented as an alternative to traditional financing or commercial banking.
The gas engineering company is committed to consolidating its position in the local market, where most of its current operations are concentrated, and to boosting its internationalization. Europe is the target market for this first step in the internationalization of the Catalan company, which currently has offices in Sentmenat and Tagamanent (Spain), Parma (Italy) and Nantes (France).
The financing agreement, worth €3 million, is the second that GasN2 closes with Banco Santander after one worth €4.5 million was agreed in 2019. Smart Funds are funds to debt that Banco Santander offers to small and medium-sized companies that require strategic financing to develop their growth. Sustainability, innovation and digitalization are some of the criteria required to obtain this type of financing.
“The GasN2 team we are pleased to be able to count on this boost to accompany our business growth. The main objective behind this project is to enter more strongly into sectors in which we have not yet explored the maximum of our engineering and production capabilities, as could be the case of highly technical sectors with a high degree of regulation such as healthcare, pharmaceuticals or chemicals,” explains Pau Martínez, CFO of GasN2.
GasN2’s management is considering further avenues for growth, either through distribution agreements with strategic partners throughout Europe or through tactical acquisitions that will allow them to expand commercially, operationally and productively in the European market. The Catalan company is exploring the various avenues of expansion in the German and UK markets.
Oriol Martinez, CEO of GasN2 defines the starting point of this internationalization process: “From GasN2 we intend to provide a global response to companies that consume gases, from the design and manufacture of machinery with our own technology to its marketing and technical service; furthermore, our idea for the future is to continue growing until we become a world reference in the gas consumption sector, maintaining our innovative spirit and offering highly efficient and sustainable solutions”.